Amistad Replica Ship Placed Under State Receivership

Amistad Replica Ship Placed Under State Receivership
Photo/Amistad America

TheDay.com: A [Connecticut] state-appointed receiver took control Thursday [Aug. 21] over Amistad America Inc., owner of the replica 19th century La Amistad schooner built at Mystic Seaport that has been widely used to tell the story of a slave rebellion and an early victory for civil rights.

The state’s takeover of Amistad America, initiated by Attorney General George Jepsen and agreed to by Amistad America’s board of trustees, came about 2 weeks after audits of the organization were released showing that it had defaulted on hundreds of thousands of dollars in debts, lacked sufficient cash flow and exhibited weak recordkeeping.

Read more about the Amistad being placed under state receivership.